Question asked by jason patterson 8 years ago
hi, we have a small limited company ; online retail. registered for the VAT flat rate scheme at 7.5%. my question is; we import a lot of goods outside the EU and must pay import vat on these via DHL/ Fedex etc. I realise with the flat rate scheme we do not claim this back, but where and how do I record these on Clearbooks? many thanks
Hi Jason
I'd just record the cost to a cost of sales account, eg "Freight & duty".
Just in case, do you also buy goods from the EU and if so are you aware of the nasty VAT trap on these?
Best answerthanks for that. no , no goods from europe, all outside.
hi again Paul, when setting up the import vat this way I've encountered a problem; part of the freight bill is admin charges, at 0% vat ( not sure why)., the rest is import vat at 100%. using the cost of sales account it can only allocate 1 set of vat rules. I've looked at creating a bill, with 2 sets of VAT rates there. Does this look like a good option?
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